U.K. output price inflation accelerated more than expected to 2.2 percent annually in August from 1.8 percent in July, the Office for National Statistics said Friday. The annual rate was forecast to rise to 1.9 percent.
Output prices climbed 0.5 percent month-on-month, which was bigger than the 0.1 percent increase in July and 0.2 percent rise forecast by economists.
At the same time, input prices gained 1.4 percent year-on-year, partially offsetting the 2.4 percent decline in July. The annual rate matched economists' expectations. Monthly inflation rose to 2 percent from 0.4 percent.
by RTT Staff Writer
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